Prime Number Acquisition I Corp.: debt financing — Prime Number Acquisition I Corp. extends business combination deadline to July 17, 2023 with $125,000 deposit

Prime Number Acquisition I Corp.

Noco-Noco deposited $125,000 into trust account for June extension from June 17 to July 17, 2023.
Company issued $125,000 unsecured promissory note to Noco-Noco, convertible into working capital shares at $10.00 per share.
Extension is the second of six possible one-month extensions under the company's governing documents.
Business combination agreement with Noco-Noco, Merger Sub, and others was entered on December 29, 2022.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Prime Number Acquisition I Corp. incurred loan of $125,000 with Noco-Noco at non-interest bearing maturing on the earlier of (i) consummation of the Company's initial business combination and (ii) the date of the liquidation of the Company.

Instrument: loan
Principal: $125,000
Counterparty: Noco-Noco
Rate: non-interest bearing
Maturity: on the earlier of (i) consummation of the Company's initial business combination and (ii) the date of the liquidation of the Company
Event: incurrence

Exact text from the filing

In connection with the Monthly Extension Payment, the Company issued an unsecured promissory note of $125,000 (the “ Note ”) to Noco-Noco. The Note is non-interest bearing and payable (subject to the waiver against trust provisions) on the earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.

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Source: SEC EDGAR

accession 0001104659-23-072277

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